Truvestments Capital LLC Buys 2,380 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Truvestments Capital LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 104.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,663 shares of the financial services provider’s stock after acquiring an additional 2,380 shares during the quarter. Truvestments Capital LLC’s holdings in JPMorgan Chase & Co. were worth $983,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. WFA Asset Management Corp lifted its holdings in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $1,185,000. Jacobs Levy Equity Management Inc. raised its position in JPMorgan Chase & Co. by 32.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock valued at $1,277,000 after buying an additional 1,569 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $1,206,000. Finally, Montchanin Asset Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $5,382,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $249.75 on Thursday. The stock has a fifty day moving average price of $225.64 and a 200-day moving average price of $213.00. The company has a market cap of $703.13 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.63 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $152.72 and a fifty-two week high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter in the previous year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. Citigroup lifted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Daiwa Capital Markets lowered their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $229.31.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.